How to get started

Maybe you have heard that trading on Betfair or Betdaq is a realistic way to earn a living. And you want to get involved.

Join the thousands of other people who have found that trading on the exchanges is a great way to earn money and it is tax free! All you need are the three basics - an account, some software and your computer. Plus of course an internet connection and some money to start with. See the steps below and open your account now to begin.

Step One
Open a brand new account below:

Step Two
Purchase some shiny new trading software

There are lots of software packages available. Follow the link to see our reviews..

Step Three
Start trading!

Choosing your exchange is the first decision. Currently, Betfair is the most popular and most supported by the third party software vendors but having a back-up with Betdaq is a good idea.

Choosing the correct software is the next hurdle. My advice would be to take a few test runs and try out a few packages. Vendors such as Bet Angel have free trials and then subscription periods as short as 24 hours so forking out large sums of cash up front can be avoided until youy choose the software that is best for you. Read our overview of the software packages available here and a look at the free software available.

Computer Equipment.

OK, have a look at your computer. Is it the same one that the rest of the family use? Is it looking a little tired? Does it take 'ages' to start up each day?

When trading, it is recommended (I would say VITAL) that you use a computer that is dedicated to the task. Using a machine that little Johnny and Emily use for their homework, chatting to friends and playing music will end up in tears.

Do NOT have any other software installed. This is important. You are going to use this machine for trading. We are talking about money here. Not browsing for the best place to buy a washing machine! So get rid of any unwanted software. This includes any software installed by the manufacturer.

Also, make sure any auto updating is turned off. There is nothing worse than waiting for that last tick before you close your £1000 trade only for Windows or some anti virus application kick in and take over the internet connection for a second or two whilst they download the latest update. Turn all that off. But don't forget to update manually when not trading.

A desktop machine is the standard equipment for traders. A reliable, well known brand with as much memory and processor power as you can afford.

Monitors

I would recommend at least a dual monitor setup. Many traders use a quad or five monitor setup such as you see in the image here. But two is fine. One monitor is OK but you will struggle to see all the information you need to on one screen and will be much more effective as a trader with more than one.

Laptop Computer

A backup laptop computer is recommended. If your desktop suddenly develops a fault or if you go away for a few days you will still be able to trade! As with the desktop, buy something with as much memory and processing power as you can afford.

Mac or PC?

Macs may be trendy, look good, have great designs and work well with Photoshop. But most trading software is written for Windows PC's. So I would recommend forgetting your Mac and investing in a PC. They are cheaper anyway!

Betfair Account.

You will need one of these. Betfair have been around since June 2000 and almost all the sports exchange trading software will link to Betfair.

Luckily, they offer free bets from time to time so click here and get your free £25.

Betdaq Account.

Why do I need one of these? Well, as with everything else, you will need a backup. What if Betfair goes down whilst you have an open position? What if you spot some odd prices. Where can you sense check them and take advantage if possible?

With Betdaq, that's who. And happily (at the time of writing) they are offering £25 for new customers also!

Trading Software

There is lots of trading software available. Take advantage of any 'free' periods and choose whichever software you think will suit you best or has the tools you require to carry out your style of trading.